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Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher prices of commodities such as coal and nickel as well as strong demand for steel products in North America.
Net profit for the three months climbed to a record 155.2 billion yen ($1.2 billion) from 107.3 billion yen a year earlier, but the company stuck to its annual profit forecast of 370 billion yen.
“Earnings from both resource and non-resource businesses have been stronger than anticipated earlier,” Sumitomo Chief Financial Officer Reiji Morooka told a news conference, adding that it may raise its profit guidance.
“On the other hand, the risk of a global economic slowdown and other uncertainties are increasing, and we will closely examine full-year forecasts going forward,” he said.
Sumitomo expects nickel production at its Ambatovy project in Madagascar to achieve its initial target of about 40,000 tonnes this financial year to March 31, after producing about 8,000 tonnes in the first quarter.
Increased oil and gas drilling activities in North America have also supported its steel pipe business in the April-June quarter and the company sees robust demand in pipes continuing through next March, Morooka said.
Asked whether Sumitomo expects any change in its business strategy in China amid rising tensions between China and Taiwan as well as China and the United States following U.S. House Speaker Nancy Pelosi’s visit to Taiwan, Morooka said no change is planned.
“It has become a major issue for us to think of how to deal with the heightened geopolitical risks triggered by not only the U.S.-China issue but also the Russia-Ukraine conflict,” Morooka said.
“We will pay close attention to the (U.S.-China) situation with high interest,” he said.
Source: Reuters
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Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
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- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- The Treasury - Australian Government
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
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